Mahindra & Mahindra sales down 13 percent in November

New Delhi: Auto major Mahindra & Mahindra on Monday reported 13 percent decline in total sales at 34,292 units in November. It had sold 39,254 units in the same month last year, the company said in a statement.

M&M's domestic sales declined by 11 percent to 32,100 units last month as against 36,261 units a year earlier.

Sales of passenger vehicles including Scorpio, XUV 500, Xylo, Bolero and Verito stood at 13,765 units, compared to 16,771 units in November 2013, down 18 percent.

Four-wheel commercial vehicle sales were down by 3 percent to 12,748 units last month as against 13,186 units in the year-ago month, M&M said.

Exports were down 27 percent to 2,192 units from 2,993 units in the same period a year earlier.

M&M Chief Executive Automotive Division and International Operations Pravin Shah said, "The auto industry continues its sluggish demand on the back of factors such as low consumer sentiments and high interest rates."

The reducing international crude prices and the subsequent lowering of fuel prices should help in the revival of demand in the coming months, he added.

"We also hope that the current excise duty rates will be extended beyond end of December to get much needed recovery for the auto industry," Shah said.

“We continue to be optimistic on the back of a good response for our new generation Scorpio and a comparatively better performance of our 4 wheeler commercial segment," he added.